Additional production estimation with new wells

Input(s)

$\mathrm{K}_{\mathrm{i}}$: Number of Fields Discovered up to date in Selected Field Class (dimensionless)

$\mathrm{K}_{\mathrm{i} \_ \text {add }}$: Number of Fields estimated to be discovered with additional number of Exploration Wells (dimensionless)

$\mathrm{N}_{\mathrm{p} \_ \text {avg }}$: Average Annual Production of a Field in the Region (dimensionless)

Output(s)

$N_{p \_a d d}$: Additional Annual Production of Fields estimated to be explored (dimensionless)

Formula(s)

$$ \mathrm{N}_{\mathrm{p} \_ \text {add }}=\left(\mathrm{K}_{\mathrm{i}}-\mathrm{K}_{\mathrm{i} \_ \text {add }}\right)\left(\mathrm{N}_{\mathrm{p} \_ \text {avg }}\right) $$

Note: All Formulas need to be applied in each Field Class separately.

Reference(s)

Serpen, U., Petroleum Economics, Course Notes, ITU Petroleum and Natural Gas Engineering, Istanbul, Turkey, (2008) Page: 80.